BILLING PROCESS/PAYMENT Clause Samples
The Billing Process/Payment clause defines the procedures and terms for invoicing and payment between parties in a contract. It typically outlines when and how invoices should be submitted, the acceptable methods of payment, and the timeframe within which payments must be made, such as net 30 days from receipt of invoice. This clause ensures both parties have a clear understanding of their financial obligations, reducing the risk of disputes over payment timing or methods and promoting smooth financial transactions throughout the contractual relationship.
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BILLING PROCESS/PAYMENT a. DSP shall prepare and submit one monthly invoice organized by CSU to their respective Regional Service Coordinator (RSC) by the 5th calendar day of the month following the month in which Services were delivered. If the 5th falls on a weekend or holiday, invoices shall be submitted on the last business day prior to the 5th of the month. All invoices shall be submitted on a standardized AMIkids DSP Invoice Form and must contain: (A) name of youth served with DJJ number, (B) services provided,